The Greater Manchester Pension Fund is to invest an undisclosed sum in Henley Investment Management’s Secure Income Property Unit Trust II, a fund focused on UK social housing.
Greater Manchester Pension Fund provides pensions and benefits to over 414,000 local government members.
Stuart Savidge, fund managing director at Henley Investment Management, said: “We are delighted to be partnering with the Greater Manchester Pension fund in investing in specialised supported housing across the UK.
“The core of this investment is about creating better outcomes for vulnerable individuals while also generating income for the members of the pension fund.”
“There is a significant unmet demand in the UK social market and private funding is key for the development of new and higher quality specialist supported housing to meet local authority and NHS care and housing needs.
SIPUT II has a target funding commitment of £200 million annually for the open-ended fund, with assets generating a projected income of 5-6% annual dividend and a 6-7% total return while providing positive, measurable social outcomes.
Henley’s SIPUT funds have been investing in specialist supported housing for over seven years, with more than £500m deployed since 2017.
